Hong Kong Property News -

Sai Kung Luxury Home Sold for HK$11.38M, Owner Loses HK$7M

Sierra Sea Adds 133 Units Starting at HK$3.27 Million

Affected by the Trade War, Buyers Turn More Cautious; EPRC Property Price Index Slightly Rises by 1.29%

Sai Kung Luxury Home Sold for HK$11.38M, Owner Loses HK$7M

According to current Housing Authority regulations, second-hand Home Ownership Scheme (HOS) flats can only be sold on the open market after paying the land premium if they have been owned for at least 15 years. However, if selling on the Secondary Market, the flats can be resold to Green Form or Whi...

28Hse Editor #Wed Property Focus 2024-06-12 13.6K 259

After repeated failures to sell land last year, even the compulsory auction of old buildings – a strategy long pursued by developers – has recently resulted in an auction with no bids (“no-sale”). With the scarce supply of new land in the core business districts of Hong Kong ...

28Hse Editor #Wed Property Focus 2024-06-04 8.7K 93

Recently, a unit at Malibu Lohas Park was rented out on Airbnb without a license, leading to legal issues for the owner. The owner faced charges under the Hotel and Guesthouse Accommodation Ordinance for operating an unlicensed establishment.This incident has prompted the Home Affairs Departm...

28Hse Editor #Wed Property Focus 2024-05-28 6.2K 66

CK Asset’s new project, #Lyos, recently saw 15 buyers forfeit their deposits. In response, the developer announced heavy discounts on the remaining units, with price cuts of up to 32%. Additionally, CK Asset noted that if the resale price of any cancelled units is lower than the initial cancel...

28Hse Editor #Wed Property Focus 2024-05-22 13.4K 190

As May arrives, many employees are receiving their "green envelopes" (tax forms sent by the Inland Revenue Department (IRD)) and must file their completed tax returns by June 3rd. If opting for online submission, the deadline is extended by an additional month.Amid Hong Kong's considerable fi...

28Hse Editor #Wed Property Focus 2024-05-14 13.7K 263

In recent years, many new properties have been sold off-plan, meaning that without an existing building to visit, prospective buyers have to rely solely on the sales brochure and show flats to gather information. Purchasing a property is not as simple as buying groceries; there are several important...

28Hse Editor #Wed Property Focus 2024-05-07 6.3K 38

To implement the 2022 Policy Address's Private Subsidised Sale Flat Pilot Scheme, the government recently opened a public tender for a plot in Cheung Man Road, Chai Wan, inviting developers to bid for construction of subsidised housing units. The deadline for bids is July 19.The plot in quest...

28Hse Editor #Wed Property Focus 2024-04-30 4.3K 27 2

Recently, Hong Kong has witnessed several fire incidents, including a number three fire at the 60-year-old New Lucky House in Jordan, densely populated with subdivided flats. This tragic event resulted in five deaths and numerous injuries, leaving many residents homeless. Fires can occur unexpectedl...

28Hse Editor #Wed Property Focus 2024-04-23 5.4K 81 16

The recent billion-dollar rehabilitation project at Neptune Terrace in Chai Wan has sparked heated discussions in the city. Homeowners were unhappy about the building management committee’s failure to disclose the engineering contract and excessive costs, with each household required to pay HK...

28Hse Editor #Wed Property Focus 2024-04-16 12.3K 205 47

In a thriving property market, many owners are taking the opportunity to list their properties for sale. Whether choosing to sell or rent out the flat on their own or through a licensed real estate agent, what should owners pay attention to if they decide to entrust an agent?Whether selling o...

28Hse Editor #Wed Property Focus 2024-04-10 6.7K 54 11

Following the Hong Kong government's withdrawal of property cooling measures, many developers have capitalised on the opportunity to launch new properties. This has led to a surge of transactions for new properties. In the 27 days following the withdrawal (from February 28 to March 25), Hong Kong re...

28Hse Editor #Wed Property Focus 2024-04-02 6.2K 54 20

Amid extended waiting times for public housing—the fourth quarter of last year hitting an average of 5.8 years, a 0.2-year increase from the previous quarter—the importance of public housing in Hong Kong has never been clearer. While the government intensifies efforts to combat the misus...

28Hse Editor #Wed Property Focus 2024-03-26 12.6K 76 32

To create an environment that fosters the growth of the next generation, parents often prioritise School Nets when purchasing or renting a home. It is not uncommon to hear about parents relocating to their preferred School Net, to increase the chances of their child being assigned to a school of cho...

28Hse Editor #Wed Property Focus 2024-03-19 6.7K 58 16

When buying, selling, or leasing a property that involves real estate agents, both parties are required to pay a commission to the agents as a reward. How is this commission calculated, and when should it be paid? The following will provide answers to these questions.For those looking to save on co...

28Hse Editor #Wed Property Focus 2024-03-12 15.1K 108 24

The day we never thought we’d see has arrived—the withdrawal of cooling measures in the Hong Kong property market. The most significant highlight of this year’s budget is the Financial Secretary Paul Chan Mo-po’s announcement of the complete removal of these measures.E...

28Hse Editor #Wed Property Focus 2024-03-05 4.3K 32 6